Nexant Inks Major African Infrastructure Contract
This news item was posted on Sep 16, 2008
Three-Year USAID Program to Expand Regional Energy Access
Washington, DC---September 16, 2008---Nexant is pleased to announce that it has been awarded a contract for the African Infrastructure Program (AIP) by the United States Agency for International Development (USAID). The three-year, $20 million program is designed to provide transaction and financial closure support to energy infrastructure projects across Sub-Saharan Africa (SSA). Expected results include the financial closure and leveraging of at least $2 billion of international investment in critical energy infrastructure that in turn will increase energy access and accelerate economic growth within the 35-plus SSA countries.
Nexant's team includes internationally renowned law firms, financial advisors, and environmental specialists. The project will be managed by Alain Rosier, who most recently was the project advisor for the successful closing of the $750 million West African Gas Pipeline.
Nexant President and CEO Basem Sarandah noted that "This is a critical time for Sub-Saharan Africa. We believe that this project's contribution to the development of this region's energy infrastructure will help to foster sustained economic growth, expand commerce, and promote social, economic, and political stability throughout the region."